1990 (10) TMI 70 - HC - Income Tax

Summary

The High Court of Himachal Pradesh ruled in favor of the assessee regarding the interpretation of the Estate Duty Act. The court held that the value of the deceased's lineal descendant's interest in joint family property should not be included in the principal value of the estate for rate purposes. The Tribunal's decision to allow the claim for rebate under section 35(3) was upheld. The court cited various legal precedents to support its decision. The question referred to the court was answered in the affirmative, against the Revenue and in favor of the assessee.